A very compelling post by Rob Peterson on the credit squeeze. You do not need to be a market analyst to know that a radical change in the way markets are structured is coming … and therefore a big change in the way we all live.
Hopefully market adjustments will lead to less of a focus on ‘growth’ and more of a focus on preserving and restoring eco-system services upon which we (and the market) depend.
I like what Rob had to say about this …
“So as lenders pull in – what does this mean?
I think it means that the structural issue trumps the market worries. Most Americans are broke. This reality will have a long term effect.
For me – it will be about work and jobs. We have exported both to cut the costs of what we buy. We then borrowed the money to buy the stuff now made abroad.
I think that we have to help people find good work.
This won’t mean going back to work for GM but new work. Local energy? Local Food?
Not just subsistence but large networks of people working for each other.”